As per World Bank estimates, the nominal world GDP in 2017 was $80,683.79 billion. A SMALL overall budget deficit of S$0.6 billion, or 0.1 per cent of GDP, is expected for FY18 while expenditure is expected to rise. Singapore - GDP per capita GDP per capita (current US$) The latest value for GDP per capita (current US$) in Singapore was $64,581.95 as of 2018. Singapore gdp growth rate for 2018 was 3.44%, a 0.9% decline from 2017. Nominal GDP vs. PPP GDP February 17, 2021. Singapore gdp growth rate for 2017 was 4.34%, a 1.09% increase from 2016. Singapore: Non-oil exports rise at fastest pace in seven months in January. The Singapore dollar was trading near S$1.31 per U.S. dollar on Wednesday, having gained 2 percent so far in 2018. Singapore’s GDP growth slowed to 3.2% for the whole of 2018 from 3.9% in 2017 as the manufacturing sector took a beating from the protracted trade dispute, according to data from the Ministry of Trade and Industry. Singapore’s GDP grew 4.1% on average between 2011 and 2013. This rate is 27 -tenths of one percent less than the figure of 3.4% published in 2018. Though the focus was predominantly on domestic items such as an impending tax … In 2016, the existing foreign direct investment stock between the EU and Singapore amounted to … GDP per Capita in Singapore (with a population of 5,708,041 people) was $54,309 in 2017, an increase of $1,392 from $52,916 in 2016; this represents a change of 2.6% in GDP … Singapore. Singapore exports to China worth US$ 50,396 million, with a partner share of 12.24 percent. In 2018, health expenditure as a share of GDP for Singapore was 4.5 %. According to consultancy EY, an overwhelming nine out 10 companies in Singapore do not have a plan to cope with GDPR. GDP per capita of Singapore increased from 21,700 US dollars in 2001 to 58,484 US dollars in 2020 growing at an average annual rate of 5.65%. Over the past 58 years, the value for this indicator has fluctuated between $64,581.95 in 2018 and $428.06 in 1960. Key Quotes “This year, using a similar quarterly profile to that seen in 2018, would deliver a … Definition: GDP per capita is gross domestic product divided by midyear population. GDP (current US$) - Singapore. Singapore GDP ends 2018 on a weaker note Annualized growth of 1.6%QoQ in the final quarter of 2018 means full-year GDP growth should reach 3.2%YoY, though 2019 GDP more likely to end in a 2.5-3.0% range. Explore all the figures for revenue and expenditure estimates with these interactive graphics. During 1980, Singapore GDP was $12 billion and Malaysia GDP was $26 billion. This is a worrying statistic considering that Singapore is the EU’s largest trading partner in ASEAN. Singapore Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Singapore during a given quarter compared to the previous one. The indicator growth can have a positive effect on the Singapore dollar quotes. Health expenditure as a share of GDP of Singapore increased from 3.2 % in 2004 to 4.5 % in 2018 growing at an average annual rate of 2.67%. World Bank national accounts data, and OECD National Accounts data files. ... 3 Q 2018 prelim. Top five countries to which Singapore exported in 2018 are below, along with the percent of total exports that went to that country:. Read more. This is a change of 7.61% from one year ago. Unveiling the Budget for 2018, Mr Heng said the government expects to spend more on healthcare. Robert Carnell, chief economist at ING, explains that in what was a remarkably steady year for Singapore’s economic growth, final quarter of GDP growth printed a figure of 1.6% QoQ. For comparison, the world average in based on countries is 0.00 percent. (212) 419-8286 FILE PHOTO: Container cranes are pictured at the port of Singapore, June 10, 2018. Singapore’s economy plummeted 0.6% in 2008; however, it managed to recover in 2010 and grew an impressive 15.2%. The absolute value of GDP in Singapore rose €16,246 $1,133 million with respect to 2018. In 2018, IMF estimates Singapore GDP to be $347 billion and Malaysia GDP to be the same. The nation’s central bank, the Monetary Authority of Singapore, tightened policy twice in 2018, and is due to release its next policy statement in April. On February 19, Singapore announced its budget allocations for 2018. By 2023, IMF forecasts Singapore GDP to reach $435 billion and Malaysia GDP to reach $498 billion. Singapore economy to grow by 4-6% this year; 2020 contraction shaved to 5.4% Feb 15, 2021, 8:07 am Malaysia’s GDP shrinks 5.6% in 2020, worst performance since 1998 Download Historical Data Save as Image. Gross Domestic Product In Chained (2015) Dollars, By Industry (SSIC 2015 Version 2018), Quarterly, (SA) Ministry of Trade and Industry - Department of Statistics / 11 Jan 2021 The aggregate value of of goods and services produced in the economic territory of Singapore expressed in chained (2015) dollars and seasonally adjusted. GDP per capita is gross domestic product divided by midyear population. Indicator values are seasonally adjusted. GDP Growth Rate in 2017 was 3.62%, representing a change of 10,825,595,893 US$ over 2016, when Real GDP was $299,170,077,008. Singapore GDP is at a current level of 364.16B, up from 338.41B one year ago. Try our corporate solution for free! Quarterly GDP Growth. Singapore, 13 February 2019 – 2018 marked another strong year for Singapore's tourism sector, with both tourism receipts and visitor arrivals achieving new highs.The core tourism industries of BTMICE[1], Hotels, and Cruise also posted strong results. The GDP figure in 2019 was €332,330 $372,066 million, Singapore is number 34 in the ranking of GDP of the 196 countries that we publish. Singapore Gross Domestic Product (GDP) y/y reflects the monetary value of all goods and services produced in Singapore during a given quarter compared to the same quarter of the previous year. The average value for Singapore during that period was 1.1 percent with a minimum of 0.03 percent in 2011 and a maximum of 3.7 percent in 1960. COVID-19 Data Source: World Bank 3.8% 4.3% 1 Q 2018. SINGAPORE will put aside some S$10.2 billion for healthcare expenditure, S$20 billion for infrastructure and S$12.8 billion for education this year, Finance Minister Heng Swee Keat said on Monday. Total health expenditure is the sum of public and private health expenditure. READ: Singapore's total trade rises 9.2% in 2018 to S$1.1 trillion For the final three months of 2018, the economy expanded by 1.9 per cent from a year earlier. Indicator values are not seasonally adjusted. Singapore: Value added in the agricultural sector as percent of GDP: For that indicator, we provide data for Singapore from 1960 to 2019. In 2018, the growth rate for the world GDP was 3.6%. REUTERS/Feline Lim/File Photo. In 2020, GDP per capita for Singapore was 58,484 US dollars. The latest value from is percent. Since then, the economy has been on a sustainable growth track. Singapore’s economic freedom score is 89.4, making it the world’s freest economy in the 2020 Index. Total spending by the ministries should clock S$80 billion in FY18, or 8.3 per cent more year on year, mainly on the back of increased spending in transport, trade and industry and domestic security. Gross Domestic Product of Singapore grew 0.7% in 2019 compared to last year. Singapore: Revised estimate reveals GDP contracted less than initially expected in Q4. In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. Singapore is expected to experience an economic slowdown in 2019, with GDP growth slowing to 1.9% from 3.1% in 2018, due to tariff hikes from the United States and China. This statistic shows the distribution of the gross domestic product (GDP) across economic sectors in Singapore from 2009 to 2019. Their GDP have been growing at a similar pace over the last four decades. SINGAPORE - Singapore is expected to experience the sharpest economic slowdown in South-east Asia, with gross domestic product (GDP) growth slowing from 3.1 per cent in 2018 … Singapore Economic News. 3.9% 3.8% 2 Q 2018 prelim. Non-oil domestic exports (NODX) jumped 12.8% over the same month last year in January (December: +6.8% year-on-year). As of 2017 Singapore GDP sits at $323.907 Billion. In Q4, the economy grew by 1.9% which represents a slowdown from 2.4% expansion in the previous quarter. Heading into the final weeks of 2017, the latest headlines in Singapore’s mainstream media have been generally positive. ; Singapore exports to Hong Kong, China worth US$ 48,666 million, with a … Singapore gdp growth rate for 2016 was 3.24%, a 0.26% increase from 2015. 2.6% 4.1% 2 Q 2018.